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, which will raise the top tax rates and therefore is rejecting john boehner's conciliatory idea of limiting tax deductions. is that the way it is? boehner just got dissed today? >> i think the president is reminding republicans that they lost and that after a vigorous come pain with many of the same ideas that the republicans are trying to defend now, that's goinged not -- if he's serious, he'll willing to make a deal but he's not willing to make a bad deal. on that the president is very firm. >> i wonder if he doesn't want high tax rates and caps on deductions so he can have more revenue to spend. the reason i have that logic is once again today at this campaign rally, or whatever today was, he didn't mention the word spending cut, never once. >> it's not in his vocabulary. one thing we know about president obama is he campaigns to the middle but he kind of straights from the left and what i fully anticipate is there's a reason why dick durbin, who was his senate partner from oil know, is saying which they went to 100% tax rate on million favors and people making above 250,000,
taxes and fix the economy. >> john boehner says we can cap deductions, probably produce $400 billion coming up pretty fast. no change in tax rates. so it is not a flat tax reform but no increase in marginal tax rates. can you and your pledge, with the pledge be okay with the bay nor plan to increase revenues by capping deductions? he has not endorsed raising taxes nor did he a year ago. if you eliminate deductions now, you have destroyed the opportunity for tarx reform a year ago. they are not available to reduce tax rates. >> so you are opposed to it. it is bad for the economy and it destroyed our effort to get tax reform down the road. >> i have talked to staff and remembers and they don't need to hear it from me, they know that lower marginal tax rates are necessary for growth and the only way to get the revenue to pay down obama's debt. >> help me out, in effect, is the plan to put a cap on deductions, does his plan break the americans for tax reform no-tax pledge? >> to be clear. john boehner has not said that. he says he is for revenues from growth. i'm for that. that is a tax
. >> i didn't think this was a mandate. i agree your man won. but jim, the basic deal was, okay, john boehner acknowledging what this was. putting this on the table and he said this a million times in return for some. modest reform. while the biggest stuff waits for next year. if the democrats say it is off the table and if harry reid is trading bars with mitch mcconnel, what is up here. senator durban said, it shouldn't be ps deal. i don't think there is a bar gain to be had. it is a win win for alabama. he is going to get the tax hikes or the rb ares will say no deal and he gets the tax hikes which is what he will prefer anyway. that is a big pot of money he can use for whatever he wants. they are still not going to be a deal. baker, democrats saying there is no problem with social security, even though the piece in the "wall street journal" today said they are $20 trillion in the hole. they said they are $40 trillion in the hole. how can democrats argue that with a straight face. i know that stuff inside and out. most of those shortfalls are in the 22nd century. we don't have a big
a balanced plan that addresses spending as well. but i think john boehner's proposal plus the proposal i put forth last fall, for the sir tax, but with the carve-out for small business, offers a way forward. and would help prevent us from speeding over that fiscal cliff, which would be a disaster for our economy. >> all right, well, that's it. i think you're rate about that. maine senator, susan collins, can't thank you enough. have a very happy thanksgiving. >> thank you, larry. >> all right. stock markets of course are still obsessed with the fiscal cliff. market did go up today by 48 points on the dow. you know, it is as though nothing else exists. so we're about to talk to a market pro who's going to help you with therapy on this market obsession. speaking of therapy, don't forget, folks, free market capitalism is the best bet to prosperity. this whole fiscal cliff issue is tied up with economic freedom and prosperity. i'm larry kudlow, we'll be right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive lea
made over the weekend between president obama and house speaker john boehner so there hasn't been a lot of concrete progress, but there is total progress in terms of the mood that members take into this. over the weekend we heard republican senators, as you alluded to, larry, breaking the so-called grover norquist pledge against raising taxes and white house press secretary jay carney reacted positively. >> some of the comments you mentioned are welcome, and they represent what we hope is a difference in tone and approach to these problems and a recognition that a balanced approach to deficit reduction is the right approach. it's the one that's most beneficial for our economy. >> reporter: larry, what i would say is tax increases does not necessarily, despite the rhetoric on both sides, and especially from democrats, does not necessarily have to mean increases in tax rates. it is possible, if you look at the estate tax, if you look at the treatment of dividends, capital gains and carried interest and take a look at loopholes and deductions to raise a significant amount of revenue from p
Search Results 0 to 4 of about 5

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